OCBC affirms it will remain in Macau
OCBC Bank said it has no plans to withdraw from Macau, despite suspending new applications for credit cards and several consumer-loan products and announcing that it will discontinue its local credit-card business on Dec. 31.
OCBC said Macau “has always been an important market” and that it would continue serving individual and corporate clients through its branch network, digital banking platform, deposit services, wealth management and other banking products.
As reported by the Times yesterday, the bank will stop accepting new applications for credit cards, residential mortgages, car loans and personal loans as part of a broader business-strategy adjustment. Existing mortgage, auto-loan and personal-loan agreements will continue under their current terms.
“OCBC Bank Macau is further focusing on wealth management and other core banking services to more effectively respond to the increasingly diversified financial needs of its clients,” the bank said.
It added that OCBC Bank Macau “will continue to be rooted in Macau and provide comprehensive financial support to individual and corporate clients through deposits, wealth management and other banking services.” NS
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